A report recently published by the World Economic Forum (WEF) " Davos' on its website under the title ' New Economic Context for the Arab World' said that the Sultanate came 5th at the Arab level in terms of labour market efficiency with 4.10 points.

The report also said that the Sultanate came fifth on the Arab level in enabling trade with 4.67 points, technological readiness with 4.40 points, network readiness (internet) with 4.31 points. 

The report, which was launched at the World Economic Forum for MENA, held in Dead Sea in Jordan, affirmed that " The world is changing at an unprecedented pace. In the medium and long term, Arab societies and economies will experience widespread change on the back of underlying global trends and potential risks.

The report pointed out that climate change is poised to exacerbate water crises and extreme weather events and might lead to a failure in adaptation.

The rise of cyber dependency - driven by the increased use of information and communication technologies (ICTs), robotics and artificial intelligence - exposes countries to the risk of data fraud, cyber- attacks and breakdowns of critical information infrastructure.

The increase in income and wealth disparities and polarisation of societies is feeding social instability and unemployment in many parts of the world.

Source: Timesofoman